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Responding to the growing consumption, domestic plastic manufacturers will raise production to 20 million tonnes by 2020 from the current capacity of 12 mt, predicts JR Shah, Chairman of National Executive Council, Plastindia Foundation, an industry body.
The domestic market is valued at ₹1.50 lakh crore with more applications evolving in the fields of automobiles, food packaging, healthcare, and retail, he said at an event to announce a 5-day exhibition at Pragati Maidan, New Delhi.
Over 2,000 exhibitors will showcase their products from beginning Feb 5, next year.
The current slowdown in the automotive segment will not cause a sizeable impact on consumption, he said, adding that only 150 tonnes of plastics are used by automotive firms annually.
Intermittent power and shortage of manpower are the challenges the industry faces nationwide, says V Sekar, Managing Director, Formulated Polymers Ltd, who runs his factory at SIDCO Industrial Estate in Chennai. The other challenge the industry faces is the impression of bringing harm to the environment, says Subhash Kadakia, Managing Director, Kadakia Plastics, and President of PlastIndia.
The segregation of plastic for recycling is essential to prevent damage to the environment, he says.
A combined push from civic bodies across the country, the public and the Government can help municipal corporations collect plastic waste for recycling, he said.
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